Finance Act 2004 (c. 12)

SCHEDULES

SCHEDULE 15 U.K. Charge to income tax on benefits received by former owner of property

Introductory U.K.

1 U.K. In this Schedule—

• “IHTA 1984” means the Inheritance Tax Act 1984 (c. 51);

• [F1 “ITTOIA 2005” means the Income Tax (Trading and Other Income Act) 2005;]

• “the 1986 Act” means the Finance Act 1986 (c. 41);

• “chattel” means any tangible movable property (or, in Scotland, corporeal movable property) other than money;

• “excluded transaction” has the meaning given by paragraph 10;

• “intangible property” means any property other than chattels or interests in land;

• “interest in land” has the same meaning as in Chapter 4 of Part 6 of IHTA 1984;

• “land” has the same meaning as in IHTA 1984;

• “prescribed” means prescribed by regulations;

• “property” has the same meaning as in IHTA 1984;

• “regulations” means regulations made by the Treasury under this Schedule;

• “settlement” and “settled property” have the same meanings as in IHTA 1984.

Textual Amendments

F1 Words in Sch. 15 para. 1 inserted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 653(2) (with Sch. 2)